Real Estate Owned and Foreclosure Appraisal in Saint Louis City CountyHouses that have reverted to the bank's possession and homes in foreclosure present specific appraisal challenges.For a house in foreclosure, you need to recognize the difference between the market value and a "quick disposition" value to know your potential charge-off liability. At Fusion Real Estate Appraisals, we have the knowledge in both providing snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that consider your time line.
Occupants of properties in foreclosure may be unwilling to allow an inspection of the house, thus presenting unique challenges. If they left the home already, they might have overlooked the care of the property for some time - or unfortunately, damaged the property.
For real estate that has gone back to REO, you likewise will be interested in a fast disposition. However, you may want to know and examine the concepts of "as-is", "as repaired", and "quick sale" values. These symbolize: |